INSIGHTS - A BLOG BY INTRUST ADVISORS

Technology is literally changing our world on a daily basis and it is only going to accelerate exponentially in the future. In fact, there is even a law called Moore's Law that says that the processor side of this equation will continue to double every 18 months, and it has since this law was announced in 1965.

Many people over the years have proposed that there would be an increase in technology as the end of times approached. Among those espousing this view were renowned scientists Isaac Newton and Francis Bacon. On the frontispiece of Bacon's Instauratio Magna, ships of learning were depicted passing by the limits of human knowledge, with a quote in Latin from Daniel 12:4 which stated "But you, Daniel, roll up and seal the words of the scroll until the time of the end. Many will go here and there to increase knowledge."

In more recent times, this belief has been supported in books like Future Shock by Alvin Toffler and The Bible Code by Michael Drosnin.

In my meetings with clients, I find far too many that are not keeping track of where technology is going, especially among baby boomers and seniors. It takes constant work and a desire to keep learning not to be displaced by the very technology that is meant to make our lives simpler. Sadly, I see far to many Americans with their head in some video game or watching Netflix and not learning how to stay relevant in this fast moving time.

So with that in mind, this month I wanted to share with you some inspiring videos that I found particularly eye opening over the summer. My hope is that they will inspire you to think big, to focus on mastering this new technology and to stay ahead of the curve that I believe will radically change our society in the years ahead.​
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The Next Big Opportunities!

Let's start with one of the biggest thinkers in America today, Elon Musk. The things he is doing in his various companies boggles the mind!
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Will Blockchain Change The World of Commerce?

Next, if you have been following the investment news at all you may have noticed a new type of currency called Bitcoin is skyrocketing in price. Since any currency is only as good as the faith that is bestowed on it, unless it is backed by some kind of collateral like gold, there has to be something that makes the currency appealing?

The answer it appears is that this new digital currency is built using an entirely new distributive digital platform that makes it significantly harder to manage or manipulate than other currencies, like the U.S. Dollar, that are controlled by a central group or government. This new platform makes it near impossible to change without the system noticing it has been changed and thus builds trust among those who use the currency for commerce that they have entered into a fair transaction with fair remuneration.

I believe this new distributive way of managing data, called Blockchain, will have a profound affect on the way not just digital currency ledgers are kept but everything we potentially manage that has data attached to it.

Ritchie Etwaru has done the best job I have seen of explaining this new technology and how it works in a way most of us can understand.
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Could Ai Bring More Disruptive Change?

Tesla's CEO Elon Musk fired off a new and ominous warning recently about artificial intelligence, suggesting the emerging technology poses an even greater risk to the world than a nuclear confrontation with North Korea.
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Musk—a fierce and long time critic of A.I. who once likened it to "summoning the demon" in a horror movie—said in a Twitter post that people should be concerned about the rise of the machines than they are.​Ironically enough, it was OpenAI's own technology that managed to beat two professional eSports players at a major tournament, after only two weeks of practice. The Dota 2 contest is known to be extremely complex, pitting two teams against one another in a virtual battle arena. After this tournament, Musk posted what appeared to be a photo of a poster bearing the chilling words "In the end, the machines will win."

The question is will Ai become man's greatest challenge or does it simply allow man to be more productive? The jury is still out on that question, but we believe Ai and the machines it's spawning have the ability to profoundly change our world.

As you will see in the videos below, it has already changed the landscape in such industries as agriculture, which used to employ hundreds of thousands of workers that have since been displaced by technology.

You may have read recently that Amazon purchased Whole Foods. It is speculated that Amazon will introduce same day delivery of prepared foods and automated checkout technology that could see the front end of grocery chains devoid of cashiers.

My wife works at Publix here in Tampa as a Floral Stylist. I have joked with her that the future has her as the only human in the front end of Publix. The majority of her job takes creativity and that is something that technology cannot replace. She, of course, is not amused!

So as you watch these next two videos think about the ways Ai could change your profession? It has already changed and is changing the financial services profession forcing lower fees, more focused planning and a move towards clients with greater sophistication to stay ahead of the roboadvisors.
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Is it any wonder that the majority of robots in industry today (see chart above) are in high wage states? I think this trend will only continue.

Conclusion

I hope I have spurred you to think bigger about the future. Maybe to take that class on the latest version of Windows or some software application that you have been meaning to take.

Technology has the ability to radically change our world! I for one believe that if you are mindful and plan on the change, you can stay ahead of that change and benefit from the technology revolution that is upon us!